Coating Equipment Market Size, Share, Growth, Trends and Industry Analysis Report
by Susan Hill Business ConsultantThe global coating equipment market is expected to reach USD
22.23 billion by 2025, according to a new report by Grand View Research, Inc.
The industry is expected to witness significant growth on account of high
application scope coupled with growing consumption from the automotive
application.
Robust growth in the consumption owing to rising
government spending, fast-growing population, and continued progress on
infrastructure projects in Middle Eastern economies is likely to augment
product utilization in the residential sector. Africa residential sector is
expected to witness growth on account of increasing foreign direct investments
and rising consumer’s willingness to spend.
Governments of Middle East have framed favourable
policies to promote investments in the automotive sector. In addition,
expansion of road networks along with urban population growth has played a
crucial role in increasing sales of automotive vehicles in Middle East
countries such as Saudi Arabia and United Arab Emirates.
The global coating equipment market is expected to witness significant competitive rivalry due to the presence of numerous players across the industry. As a result of changing consumer trend, various companies are launching new products to expand their product offerings and put up with the competition in the market.
Further key findings from the report suggest:
- Powder coating equipment accounted for a share of 38.7% of global
market revenue in 2016 owing to low cost as compared to specialty coatings
- Powder
coating equipment has the ability to produce thin films which
are utilized by aerospace and automotive industry due to their lightweight
- Development and utilization of machinery in agriculture sector has
witnessed significant growth globally which is anticipated to provide
positive scope for product demand as the machinery typically requires
coating
- South Korea is expected to show high growth in the construction
industry owing to private and public investments in commercial,
industrial, and infrastructure projects
- Key players in the industry perform distribution directly to the end
user rather than distributing the product through third party sources.
Wide distribution channel in the market is achieved through both physical
retail stores and online retailing.
- In March 2017, Oerlikon acquired novel technologies which enabled
the company to strengthen its business position in coatings &
equipment market
- In December 2016, Sata GmbH & Co.Kg introduced Satajet 4800 K spray mix to serve high pressure applications
Access
full research report on global coating equipment market:
www.grandviewresearch.com/industry-analysis/coating-equipment-market
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Created on Oct 22nd 2019 02:12. Viewed 307 times.